TFSA Limit: Where to Invest $7,000 for Passive Income [Yahoo! Finance Canada]
MercadoLibre, Inc. (MELI)
Last mercadolibre, inc. earnings: 2/10 04:01 pm
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Source: Yahoo! Finance Canada
The Tax-Free Savings Account (TFSA) is becoming a popular tool for investors who want to to build portfolios of Canadian investments that can generate tax-free passive income. TFSA limit The TFSA limit is $7,000 in 2024, bringing the cumulative maximum TFSA contribution room per person to $95,000. In 2025 the TFSA limit will likely be $7,000 again, boosting the total space to $102,000. The size of the annual TFSA limit is raised in $500 increments, linked to inflation. For retirees and other people who have enough savings to max out the TFSA contribution, $102,000 is large enough to create a meaningful portfolio of investments that can produce decent tax-free income to complement pensions. Capital gains, interest, and dividends earned inside the TFSA are tax-free and can be fully reinvested or removed as income. This is particularly helpful for seniors who collect Old Age Security (OAS) and already have high pension income. The CRA doesn't count TFSA earnings when calculating
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MELI
Earnings
- 8/1/24 - Beat
MELI
Sec Filings
- 10/1/24 - Form 8-K
- 9/16/24 - Form 3
- 9/16/24 - Form 8-K
- MELI's page on the SEC website